Occidental Petroleum (NYSE:OXY) Shares Down 1.4%

Occidental Petroleum Co. (NYSE:OXY) traded down 1.4% during mid-day trading on Friday . The stock traded as low as $63.66 and last traded at $63.76. 2,136,351 shares were traded during mid-day trading, a decline of 75% from the average session volume of 8,437,866 shares. The stock had previously closed at $64.66.

Analyst Ratings Changes

OXY has been the subject of several research reports. Raymond James reduced their target price on shares of Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Morgan Stanley lifted their price objective on Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Barclays assumed coverage on Occidental Petroleum in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 target price for the company. HSBC began coverage on shares of Occidental Petroleum in a report on Monday, April 8th. They issued a “hold” rating and a $65.00 price target on the stock. Finally, Stephens reaffirmed an “overweight” rating and set a $74.00 price objective on shares of Occidental Petroleum in a report on Thursday, February 15th. Nine analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum currently has an average rating of “Hold” and a consensus target price of $71.94.

Occidental Petroleum Stock Down 0.4 %

The business’s 50 day moving average price is $64.72 and its 200-day moving average price is $61.43. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.92 and a quick ratio of 0.69. The company has a market cap of $57.08 billion, a P/E ratio of 16.47 and a beta of 1.64.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.74. The company had revenue of $7.53 billion during the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The firm’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same period last year, the company posted $1.61 earnings per share. On average, analysts anticipate that Occidental Petroleum Co. will post 3.81 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be given a dividend of $0.22 per share. The ex-dividend date is Monday, June 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.37%. Occidental Petroleum’s payout ratio is 22.51%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Brookstone Capital Management lifted its stake in shares of Occidental Petroleum by 6.9% during the third quarter. Brookstone Capital Management now owns 13,085 shares of the oil and gas producer’s stock valued at $870,000 after acquiring an additional 845 shares during the period. Mission Wealth Management LP acquired a new position in Occidental Petroleum during the 3rd quarter valued at about $214,000. Stratos Wealth Partners LTD. boosted its stake in shares of Occidental Petroleum by 9.2% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 17,716 shares of the oil and gas producer’s stock valued at $1,149,000 after purchasing an additional 1,486 shares during the last quarter. Stratos Wealth Advisors LLC bought a new stake in shares of Occidental Petroleum during the third quarter worth approximately $500,000. Finally, Bank of New York Mellon Corp lifted its holdings in Occidental Petroleum by 24.1% in the third quarter. Bank of New York Mellon Corp now owns 12,021,929 shares of the oil and gas producer’s stock valued at $779,983,000 after buying an additional 2,334,651 shares during the period. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.